Press Release
Press Release For Immediate Release Transcontinental Inc. divesting media assets in Atlantic Canada Montreal, April 13, 2017 – Transcontinental Inc. (TSX: TCL.A TCL.B) announced today the sale of its publication portfolio in Nova Scotia, Prince Edward Island, Newfoundland and Labrador, and New Brunswick to SaltWire Network Inc., an important independent local media group which publishes the daily newspaper The Chronicle Herald, among others. This transaction is effective immediately and includes the sale of 28 brands and web-related properties, four printing plants operated within its Media Sector, commercial printing activities in the province of Newfoundland and Labrador as well as distribution activities in Atlantic Canada. TC Transcontinental remains the owner of the two plants operated within its printing division in this region, which are Transcontinental Halifax, located at 11 Ragged Lake Blvd. in Halifax, and Transcontinental Prince Edward Island, located at 169 Industrial Drive, in Borden-Carleton. “SaltWire Network Inc. expressed an interest in acquiring our portfolio of titles in Atlantic Canada given how well their publications and digital products complement ours,” said Julia Kamula, Senior Vice President, Local Solutions, TC Media. “After careful consideration, we have decided to move forward with this transaction and divest of these assets. We feel this is the best decision for the continued sustainability of these operations, and that this transaction will help foster even stronger connections with the local communities that these publications serve at a time when all media are undergoing profound transformation. SaltWire Network Inc. has deep publishing roots in Atlantic Canada and we are confident that this organization is well-positioned to carry on the legacy of these brands.
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